All Forum Posts by: Charlie DiLisio

What percentage is charged for the funding?

Checking into obtaining business credit cards without giving a personal guarantee.  I have found a few such as Lencred, Auralian and credit suite all with different requirements and funding fees.  Anyone have any information on these companines?

Do you hold title to the property or is there a mortgage on it? I think a low interest HELOC could be done or depending on the new LTV there are lenders that have done 90% but the interest rate may be a point or two higher than normal. Not enough info here to tell. Are you a veteran? They do cash out re-fi's as well and can wrap your cards into the deal. Credit unions are probably best for HELOC'S. Why are you paying for an appraisal at this time? Most lenders want their own with the new guidelines out. I wish you well and it sounds like you did it right and you can get a rough guess from most appraisers for free if you ask for a ballpark.

I agree with Christopher.  Get the power and water turned on first to check for leaks and power problems.  Next I would secure the house (doors, windows, etc) for security and prying eyes.  I always cover all my windows with inexpensive window treatments for privacy and give the illusion of someone living there.  Depending on the area you may want an inexpensive security system installed for when you are not there.  If you plan on living there I would clean and paint one bedroom, one bathroom and make the kitchen functional and you are ready to move in.  Depending on your plan for re-no I would do the demo before moving in and you are ready to go.  My preference always is to complete all the inside first before doing anything outside.  Looks like a great start for you and I wish you the best.  

Yes I do use my HELOC for whatever I need it for to make money. I do not worry about losing my house for two reasons. The interest rate is low and I can make the payment unless something catastrophic happens in which case that is out of my control. I have done many re-habs and creative financing and if you buy right it's very difficult to lose money with so many exit strategy's out there. If you wait until you have all cash you could be waiting a long time to cash in. I wish you the best in the future and I say go for it but never use loans for bread and butter items only to make money! All the best to you! Cheers

Just a thought Jeff but if you had a leak going down to your neighbor down stairs why didn't you contact your insurance company on the property.  Many times especially in a condo situation it is covered by your home owners insurance and also partly by the association depending on when it was built.  Sorry to hear about all your troubles but you can report the contractor to the building department to see if he has any other violations there but I don't think you will prevail in court on a few vague texts as a viable contract.  I wish you the best.

Thanks for the feedback Karim. I can see that with the free consult there is no risk and I assume that all details will be explained before any money changes hands. I have heard of other company's such as Aurelian having a similar program but their fee I believe was based on a percentage of what they obtained for the client. Very interesting and I will explore further to check out the opportunity. I appreciate your input and explanation. I am all in with REI also so due diligence is in my area of expertise and I will pursue the matter further. Thank you for the detailed response and that would be great if you could arrange a message from the BP client. All the best, Charlie

Can you share the cost structure for the program?  Has anyone in Bigger Pockets used this company and their experience with them.  Appreciate any remarks about the program.  Sounds like a good resource to apply to the right places for maximum results.  Thanks for any comments.

I have looked into staging companies and find the cost is too high for my prince point so I do my own.  It makes a big difference in selling and I think it is well worth it.  I had two on the market and sold them both within one month after I staged them.  Before that they were empty and they sat there.  I'm guessing people can't envision them until staged.  Just my opinion.  My price point by the way is in the 200k range.  All the best to you, Charlie

Way to go.  Humor makes life fun and we can all use it to further our goals and aspirations.  All the best to you Robert.  Keep on looking at the lighter side of life.